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The era of large-scale application of scrap is coming.      [2017-12-04]

According to statistics from the National Conference on Steel Scrap recently held in Hunan province, during Jan-Sept this year, China’s gross steel output was around 639 million tons, up by 5.8% with an increase of 34.95 million tons compared with the same period last year. The total consumption of steel scrap was about 101 million tons, increasing 36.53 million tons, up by 56.5% YoY. Li Shubin, Executive Vice President and Secretary General of Steel Scrap Association, pointed out that China has consumed over 100 million tons of scrap in total for the first time in 2017. EAF route takes up only 12% in China for steel-making process due to lack of scrap availability in comparison with that of 33% world-average. With more scraps produced from buildings and vehicles, the scrap supply is supposed to increase faster in the next decade. CLIK analysts expect that by the end of this year, the total consumption of steel scrap will reach 140 million tons, ushering in the era of large-scale application of scrap into the country’s steel industry.